PIPER SANDLER COMPANIES · Security Brokers, Dealers & Flotation Companies

PIPR

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The short version

A profitable company with growing sales. Institutions are adding.

Going well

Sales up 25% in the latest quarter vs a year ago
Raised its dividend (8.8% yield)
Profitable

Money moves

No insider buying or selling in the last 30 days
Institutions added 2.9% to their holdings in the quarter ending June 2026 (226 bought, 162 sold)
Held by Ray Dalio (Bridgewater)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$64.91+0.4% that day

Company value: $4.6B; Share price times all shares
Price vs profit (P/E): 15.0x; You pay about $15 for each $1 of yearly profit
Price vs sales: 2.2x; Company value is 2.2 times a year of sales
Dividend yield: 8.8%; Yearly dividend as a share of today's price
Cash vs value: 7%; Cash as a share of company value

From PIPR's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$496.3M+25% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $2.1B, up 32% from the 12 months before. Over 5 years, sales grew about 8.7% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of PIPR. Starting points are the company's recent numbers.

Sales growth+30% a yearRecently: +32% a yearProfit margin15%Last 12 months: 14.5%P/E at the end15xToday: 15.0x. Many steady companies trade at 12x to 25xShare count change+2% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$7.9B

Profit in 5 years$1.2B

Price these guesses point to$226.82+249% vs $64.91 todayAbout +28% a year, before dividends

What today's price needs: with a 15% margin and a 15x P/E, sales would have to grow about 1.2% a year for 5 years just to match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

4/6Mixed

PassReturn on equity 15%+Earns a lot on the money owners have in the business.21.7%
PassDebt under half of equityNot relying on borrowed money.No debt reported
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.14.8%
MissProfitable every yearSteady profits, not one good year.8 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$586.6M
MissShare count not growingNot diluting owners. Falling means buybacks.+4.8% in 3 years

Revenue: $1.9B; +24.3% vs prior year
5-year growth: +8.7%/yr; revenue, per year
Total debt: None; 0.00x equity
Free cash flow: $586.6M; 30.8% of revenue

From annual reports filed with the SEC. Gross margin doesn't apply to banks and insurers, so it isn't scored. A checklist is a starting point for research, not a verdict.